07/30/2013
1.21 p.m.
H1 2013 Results
Net income: 199.5 million euro
Assets under administration: 53.5 million euro
Banca Mediolanum - net inflows into mutual funds: 2,578 million
The Board of Directors of Mediolanum S.p.A. met today in Basiglio (MI) and approved the Group Interim Financial Statements as at June 30, 2013.
The CONSOLIDATED GROUP RESULTS in the first half of the year once again show a steady increase in management fees, the most important of recurring revenues, which amply compensate for the decrease in net interest income. The latter reflects the lower average return on treasury assets caused by the fall in market interest rates while maintaining high rates offered on bank accounts to customers to finance the growth in business.
As proof of the aforementioned:
- Group Net Income for the half-year was at 199.5 million euro, 8% lower than the same period last year, which benefitted from a significant recuperation in investments at fair value (more than 53 million euro, net of tax);
- Net Income for the domestic market came to 188.2 million euro, -10% with respect to H1 last year, due to the same reasons pointed out in the Consolidated Group results;
- Total Assets under Administration went up to 53,511 million euro, an increase of 9% with respect to June 30, 2013, and 4% since the beginning of the year.
In greater detail, with reference to Banca Mediolanum:
- Total Net Inflows were positive at 1,233 million euro. Net inflows into mutual funds were particularly noteworthy, reaching 2,578 million euro, surpassing in just six months the all-time annual record registered in 2012;
- The number of Financial Advisors as at June 30, 2013 totalled 4,367;
- There was a total of 1,029,300 Customers as at June 30, 2013;
- The number of Current accounts and Deposit accounts totalled 711,000 as at June 30, 2013, with an increase of 5% with respect to the same date last year, and unchanged since the beginning of the year.
Highlights in particular with respect to Banca Esperia:
- Net Income was at 7.2 million euro (3.6 million euro for Mediolanum’s share), +87% compared to H1 2012;
- Assets under Administration totalled 14,333 million euro (7,167 million euro for Mediolanum’s share), an increase of 8% with respect to June 30, 2012, and 4% since the beginning of the year.
With reference to the FOREIGN MARKETS:
- Net Income came in at 11.3 million euro, posting an increase of 52% compared to the first half of 2012;
- Assets under Administration totalled 2,491 million euro, a growth of 24% with respect to June 30, 2012 and 11% since the beginning of the year.
Please remember that the Group Interim Financial Statements are currently under review on a limited basis by the independent auditors, who have not yet issued their report.
In an effort to provide more complete disclosure about the results as at June 30, 2013, we have attached the segment report detailing income statement data, reclassified to reflect the criteria used by the Mediolanum Group. This reclassified segment report is not subject to audit by the independent auditors.
The Officer responsible for preparing Mediolanum S.p.A accounting documents, Luigi Del Fabbro, declares that, in compliance with the requirements of the second paragraph of section 154 bis of the Consolidated Finance Act, the financial information contained herein reflects the accounting entries, records and books.
A presentation in English of the financial information contained herein will be available on the website of the Italian Stock Exchange and on the website www.mediolanum.com under Investor Relations > Financial Data > Presentations. The Group Interim Financial Statements as at June 30, 2013 will be available according to the terms set by law at the company’s Registered Office in Basiglio - Milano 3, Palazzo Meucci - Via F. Sforza, on the website www.mediolanum.com and on the website of The Italian Stock Exchange.
The Independent Auditors’ report will be published, in the same manner, as soon as it becomes available pursuant to current applicable regulations.
Attachments:
Basiglio - Milano 3 City, July 30, 2013
